The European Commission has decided to exercise one of the contractually agreed options and has commissioned OHB System AG, a subsidiary of OHB SE (Prime Standard; ISIN: DE0005936124), to build four additional satellites for the European navigation system Galileo. A delegation agreement exists between the European Commission and the ESA, under which the ESA acts as the design and procurement agency on behalf of the EU and represented by the European Commission, the owner of Galileo.
This contract is worth 157.75 million euros. The manufacturing and testing of the navigation satellites will begin immediately following the completion of the eight satellites already ordered under the third tender.
Including the four satellites now ordered under this option, OHB System AG has so far been awarded contracts for 34 Galileo satellites, 14 of which are already in space.